Intimation of postal ballot notice
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Awaiting price reaction for this filing.
Arunis Abode Limited has issued a postal ballot notice for shareholder approval on 13 special/ordinary resolutions, with e-voting running from May 14, 2025 to June 12, 2025. Key items include regularisation of six directors (including Mr. Dharmendrabhai Jasani as Chairman, Mr. Ayush Jasani as Vice Chairman, Mr. Yagnik Tank as Managing Director, and three Independent Directors, each at Rs. 12 lakh p.a. for executive roles). The company proposes increasing its authorised share capital from Rs. 7.5 crore to Rs. 52 crore and amending its object clause to add an earth-moving equipment rental, hire, and infrastructure business. It also seeks approval to acquire 100% of Prasad Earth Movers Private Limited as a wholly owned subsidiary, acquire Kalind Earth Movers (proprietary concern) as a going concern for up to Rs. 20 crore, raise the Section 186 investment/loan/guarantee limit from Rs. 50 crore to Rs. 200 crore, approve material related party transactions up to Rs. 50 crore each with Prasad Earth Movers and Kalind Earth Movers Limited, and shift its registered office from Valsad to Surat.
Shareholders are being asked to approve a major strategic pivot into the earth-moving equipment and infrastructure business through acquisitions, alongside a near 7x increase in authorised share capital which signals potential future fundraising or share issuance. The expansion scope and related party transactions (with newly targeted subsidiaries) warrant close scrutiny on valuation and arm's-length pricing before voting.